1. NTPC has Inked Term-Loan Agreement of Rs.2,000 crore with Canara Bank
- The Loan facility prolonged at an interest rate linked to 3-Month MCLR of Bank.
- The amount would be utilized to part finance its capital expenditure.
- The loan has a tenure of 15 years.
2. Reserve Bank of India has given some guidelines for banks to set up new currency chests
- RBI gave some guidelines for banks to set up new currency chests, which includes a minimum area of 1,500 square feet for strong room and should have a processing capacity of 6.6 lakh pieces of banknotes per day.
- The guidelines are based on the recommendations of Committee on Currency Movement chaired by D K Mohanty.
- Those who are situated in the hilly areas should have a processing capacity of 2.1 lakh pieces of banknotes per day.
- These new chests shall maintain Chest Balance Limit (CBL) of Rs 10 billion or Rs 1,000 crore
3. BSE has signed an agreement with HDFC Bank
- It has been signed to strengthen the startup platform.
- It will help in spreading more awareness about the benefits of listing startups as well as to strengthen BSE startup platform.
- It will also encourage entrepreneurs to get listed and raise equity capital for their growth, expansion, and for trading in equities of small and medium enterprises (SMEs).
4. India’s growth rate to increase from 7.3% in 2019 to 7.5% in 2020
- As per the report World Economic Outlook recently released by IMF India's growth rate is expected to rise from 7.3% in 2019 to 7.5% in 2020.
- The report says, India’s growth rate was 7.1% in 2018 against China’s 6.6%.
- India will also remain the fastest growing major economy in the world.
5. Government retained interest rate for General Provident Fund at 8%
- It retained interest rate for General Provident Fund, Contributory Provident Fund and other related schemes at 8% for the first quarter of current financial year.
- It will be applicable on provident funds of central government employees, railways and defence forces.
6. SBI has signed its first-ever co-origination loan agreement with PAISALO Digital Limited
- The loan ticket is designed at Rs 10000 to Rs 2 lakh.
- Company expects to disburse 200,000 loan applications in FY20.
- PAISALO Digital Limited is a leading systemically important non-deposit taking NBFC, registered with the Reserve Bank of India and is in operations since 1992.
7. RBI has granted 12 years to LIC for reducing stake in IDBI Bank
- LIC has a 51 per cent stake in the bank.
- Insurance Regulatory and Development Authority (IRDAI) has claimed that LIC can take up to 15 per cent stake in any bank, which can stretch up to 30 percent as per the board approval.
- After 12 years LIC has to decrease stake in IDBI Bank by 10 per cent to 40 per cent.
8. HDFC bank has been named India's No. 1 bank
- The bank has been identified as number 1 bank by customers in India as per Forbes World's bank survey.
- Customers were asked to rate banks on overall recommendations and satisfaction as well as 5 key attributes namely trusts, terms and conditions, customer services, digital services and financial advice.
9. Ratnakar Bank Limited (RBL) has partnered with CreditVidya for improving customer experience
- Through partnership the private sector lender will be able to gain significant insights into its customer base.
- Thus RBL will be able to segment its customers better offering them relevant credit products and build custom scorecards.
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